| Cummins desires to be low cost producer in all markets. Therefore for maximum benefit we must utilize diverse suppliers to help:|
- Solve problems
- Reduce costs
- Achieve customer satisfaction
- Increase market share
- Create broader economic opportunities
- Diversity Matters.
- Diversity Matters to Business.
- There is a Business Connection between Diversity and Profitability.
- Companies with the Strongest Diversity Initiatives are Positioned for the Greatest Profitability.
Corporate minority business development initiative provides a means for corporations to foster economic growth within the minority business community and to bring more minority entrepreneurs into the mainstream of the American free enterprise system. Minority communities realize increased capital investment and employment opportunities where corporations are successfully implementing minority business development programs. In addition, minority communities realize a reduced need for public assistance/social welfare programs, and an increased tax base.
Corporations also benefit from minority business development programs through expansion of their markets, a larger pool of qualified suppliers/contractors, cost savings and higher quality due to increased competition. Many corporations see a direct correlation between minority business development and corporate economic development efforts in the communities where they do business. As customer demographics move to a higher and higher percentage of minorities, corporations comfortable with cultural diversity and change, and responsive to their customers, will be the ones that thrive. Forward-looking corporations see minority business development as a value-added way of doing business, as well as part of being a good corporate citizen.